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September 2, 2015

Homework Help: economics

Posted by Aly on Sunday, May 26, 2013 at 2:53am.

Pls Help. Not too sure how to do this question.

Someone wants to set aside money for their newborn daughters college funds. He estimates she would need 25,000 on her 17, 18, 19 and 20, birthdays. If he plans to make uniform deposits starting 3 years from now and through her 16 birthday, what should the size of the deposit be if it acumulates interest at a rate of 10% per year?

i have a chart which will give me P/A or F/A etc. just dont know the steps. pls help thanks!

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